{"id":40313,"date":"2024-12-16T12:55:48","date_gmt":"2024-12-16T17:55:48","guid":{"rendered":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?p=40313"},"modified":"2024-12-16T12:55:48","modified_gmt":"2024-12-16T17:55:48","slug":"globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity","status":"publish","type":"post","link":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/","title":{"rendered":"GlobalFoundries Secures $1.5 Billion In Funding To Triple Malta Campus Capacity"},"content":{"rendered":"<figure id=\"attachment_39131\" aria-describedby=\"caption-attachment-39131\" style=\"width: 750px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-39131\" src=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/10\/globalfoundries-h.jpg\" alt=\"\" width=\"750\" height=\"558\" srcset=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/10\/globalfoundries-h.jpg 750w, https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/10\/globalfoundries-h-300x223.jpg 300w\" sizes=\"auto, (max-width: 750px) 100vw, 750px\" \/><figcaption id=\"caption-attachment-39131\" class=\"wp-caption-text\">The U.S. government awarded GlobalFoundries a contract for secure computer chips.<br \/>Courtesy GlobalFoundries<\/figcaption><\/figure>\n<p>GlobalFoundries (Nasdaq: GFS) (GF) and the U.S. Department of Commerce have announced an award of up to $1.5 billion in direct funding to GF through the CHIPS and Science Act. The award follows the previously signed preliminary memorandum of terms announced in February 2024 and will enable GF to expand its essential chip manufacturing and technology development in the U.S., strengthening supply chains and supporting customers across a range of vital end-markets including automotive, smart mobile devices, IoT, datacenters, and aerospace and defense.<\/p>\n<p>\u201cThe idea of strengthening U.S. semiconductor manufacturing has been five-plus years in the making. With bipartisan support, that idea evolved into the CHIPS and Science Act,\u201d said Dr. Thomas Caulfield, president and CEO of GF. \u201cGF\u2019s essential chips are at the core of U.S. economic, supply chain and national security. We greatly appreciate the support and funding from both the U.S. Government and the states of New York and Vermont, which we will use to ensure our customers have the American-made chips they need to succeed and win.\u201d<\/p>\n<p>GF\u2019s CHIPS and Science Act award will support three projects:<\/p>\n<p>\u2022 Expansion of GF\u2019s existing Malta, New York, fab by adding critical technologies already in production at GF\u2019s Singapore and Germany facilities, to enable a secure and reliable supply of domestically manufactured essential chips for the U.S. auto industry.<\/p>\n<p>\u2022<span class=\"Apple-converted-space\">\u00a0 <\/span>Modernization and upgrading of GF\u2019s existing fab in Essex Junction, Vermont, to expand production capacity and create one of the world\u2019s leading facilities capable of high-volume manufacturing of next-generation gallium nitride (GaN) semiconductors for use in electric vehicles, data centers, IoT, smartphones and other critical applications.<\/p>\n<p>\u2022 In alignment with market conditions and customer demand, construction of a new state-of-art fab on GF\u2019s Malta, New York, campus to meet expected demand for U.S.-made essential chips across a broad range of markets and applications including automotive, AI in the data center and at the edge, as well as aerospace and defense.<\/p>\n<p><span class=\"Apple-converted-space\"><span class=\"\"><b><span class=\"s1\"><span class=\"s2\"><!--more--><\/span><\/span><\/b><\/span><\/span>The two New York-based projects are expected to triple the existing capacity of GF\u2019s Malta campus over the next 10-plus years, in alignment with expected market requirements and customer demand. Construction of the new fab will leverage the GF site\u2019s existing infrastructure and ecosystem, enabling a fast and efficient path from construction to production.<\/p>\n<p>In aggregate, these projects represent more than $13 billion of investment over the next 10-plus years across GF\u2019s two U.S. sites. This investment includes the $1.5 billion CHIPS and Science Act award, more than $550 million in support from the New York State Green CHIPS Program, as well as funding and support from Vermont, GF ecosystem partners and key strategic customers, and other incentives.<\/p>\n<p>Combined, these investments are expected to create close to 1,000 direct manufacturing jobs and more than 9,000 construction jobs over the life of these projects.<\/p>\n<p><span class=\"Apple-converted-space\">\u00a0<\/span>GF\u2019s fabs in New York and Vermont are both Trusted Foundry accredited and manufacture secure chips in partnership with the U.S. government.<\/p>\n<p>As part of its CHIPS and Science Act award, to attract and cultivate a pipeline of semiconductor talent in New York and Vermont, GF will continue to invest in and develop new workforce development efforts including curriculum development, internship and apprenticeship programs, K-12 STEM outreach, as well as additional education and training programs.<\/p>\n<p>Consistent with GF\u2019s longstanding commitment to our communities and the environment, GF\u2019s design and construction plans for its expansions and modernizations in New York and Vermont will reflect the company\u2019s sustainability goals for future operations.<\/p>\n<p>For more information, visit GlobalFoundries\u2019 website.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>GlobalFoundries (Nasdaq: GFS) (GF) and the U.S. Department of Commerce have announced an award of up to $1.5 billion in direct funding to GF through the CHIPS and Science Act. The award follows the previously signed preliminary memorandum of terms announced in February 2024 and will enable GF to expand its essential chip manufacturing and [&hellip;]<\/p>\n","protected":false},"author":89,"featured_media":39131,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-40313","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\r\n<title>GlobalFoundries Secures $1.5 Billion In Funding To Triple Malta Campus Capacity - Saratoga Business Journal<\/title>\r\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\r\n<link rel=\"canonical\" href=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/\" \/>\r\n<meta property=\"og:locale\" content=\"en_US\" \/>\r\n<meta property=\"og:type\" content=\"article\" \/>\r\n<meta property=\"og:title\" content=\"GlobalFoundries Secures $1.5 Billion In Funding To Triple Malta Campus Capacity - Saratoga Business Journal\" \/>\r\n<meta property=\"og:description\" content=\"GlobalFoundries (Nasdaq: GFS) (GF) and the U.S. Department of Commerce have announced an award of up to $1.5 billion in direct funding to GF through the CHIPS and Science Act. The award follows the previously signed preliminary memorandum of terms announced in February 2024 and will enable GF to expand its essential chip manufacturing and [&hellip;]\" \/>\r\n<meta property=\"og:url\" content=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/\" \/>\r\n<meta property=\"og:site_name\" content=\"Saratoga Business Journal\" \/>\r\n<meta property=\"article:published_time\" content=\"2024-12-16T17:55:48+00:00\" \/>\r\n<meta property=\"og:image\" content=\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/10\/globalfoundries-h.jpg\" \/>\r\n\t<meta property=\"og:image:width\" content=\"750\" \/>\r\n\t<meta property=\"og:image:height\" content=\"558\" \/>\r\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\r\n<meta name=\"author\" content=\"Jake Van Ness\" \/>\r\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\r\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jake Van Ness\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\r\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/\",\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/\",\"name\":\"GlobalFoundries Secures $1.5 Billion In Funding To Triple Malta Campus Capacity - Saratoga Business Journal\",\"isPartOf\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/10\/globalfoundries-h.jpg\",\"datePublished\":\"2024-12-16T17:55:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/#primaryimage\",\"url\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/10\/globalfoundries-h.jpg\",\"contentUrl\":\"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-content\/uploads\/sites\/48\/2023\/10\/globalfoundries-h.jpg\",\"width\":750,\"height\":558,\"caption\":\"The U.S. government awarded GlobalFoundries a contract for secure computer chips. 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Courtesy GlobalFoundries"},{"@type":"BreadcrumbList","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/2024\/12\/globalfoundries-secures-1-5-billion-in-funding-to-triple-malta-campus-capacity\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/"},{"@type":"ListItem","position":2,"name":"GlobalFoundries Secures $1.5 Billion In Funding To Triple Malta Campus Capacity"}]},{"@type":"WebSite","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#website","url":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/","name":"Saratoga Business Journal","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/a11ec438b5f0e57f1156754ba3931b86","name":"Jake Van Ness","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/0d74f7533bd2ebb3908a187893d5eafbf1ee7752b11715c976372134cbea918d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/0d74f7533bd2ebb3908a187893d5eafbf1ee7752b11715c976372134cbea918d?s=96&d=mm&r=g","caption":"Jake Van Ness"},"url":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/author\/jakev\/"}]}},"_links":{"self":[{"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/posts\/40313","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/users\/89"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/comments?post=40313"}],"version-history":[{"count":1,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/posts\/40313\/revisions"}],"predecessor-version":[{"id":40314,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/posts\/40313\/revisions\/40314"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/media\/39131"}],"wp:attachment":[{"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/media?parent=40313"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/categories?post=40313"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saratoga.com\/saratogabusinessjournal\/wp-json\/wp\/v2\/tags?post=40313"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}